Tuesday, March 2, 2021
GMO test
  • Politics
    • American Politics
    • Canadian Politics
    • International Politics
  • Investing
  • Business
    • Corporate Culture
    • Leadership
    • Marketing
    • Supply Chains
  • Economy
    • Jobs
    • The Green Economy
    • GDP
  • Energy
    • Solar
    • Wind
    • Fossil Fuels
    • Renewables
  • Environment
    • Emissions
    • Wildfires
    • Biodiversity
    • Extreme Weather
  • Technology
    • Food
    • Health
    • Buildings
    • Renewables
    • Carbon Capture
    • Transportation
    • Climate Change
  • Social Change
    • Activism
    • Education
    • Psychology
No Result
View All Result
  • Politics
    • American Politics
    • Canadian Politics
    • International Politics
  • Investing
  • Business
    • Corporate Culture
    • Leadership
    • Marketing
    • Supply Chains
  • Economy
    • Jobs
    • The Green Economy
    • GDP
  • Energy
    • Solar
    • Wind
    • Fossil Fuels
    • Renewables
  • Environment
    • Emissions
    • Wildfires
    • Biodiversity
    • Extreme Weather
  • Technology
    • Food
    • Health
    • Buildings
    • Renewables
    • Carbon Capture
    • Transportation
    • Climate Change
  • Social Change
    • Activism
    • Education
    • Psychology
No Result
View All Result
GMO test
No Result
View All Result
Home Environment Biodiversity

Banks Fund Climate Change & Biodiversity Loss

by Richard Matthews
February 4, 2021
in Biodiversity, Environment
0

Major banks may be slowly backing away from financing some fossil fuel infrastructure, but they fund a wide range of projects that contribute to climate change and biodiversity loss.  While banks claim to be embracing sustainability this does not square with many of the projects they finance.

According to the Bankrolling Extinction report produced by portfolio.earth banks are funding crimes against nature.  In 2019 alone the world’s largest investment banks provided $2.6 trillion worth of ecosystem destroying financing that has been linked to biodiversity loss and mass extinctions. Fifty top investment banks are named in the report including big American banks. 

While there have been some positive steps towards preventing biodiversity loss, banks are funding what can only be described as a war against nature and this threatens half  of all species on earth.  According to the Portfolio.earth report banks make little or no effort to assess the impacts on biodiversity in their processesing of loan applications. 

According to the UN’s Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem Services (IPBES), the funding of things like food, fossil fuels, forestry, mining, infrastructure, tourism, transport and logistics are driving biodiversity loss. The report concludes that three quarters of the earth’s land surface and two thirds of the ocean surface have been altered by human activity.

We know that climate change has caused mass extinction events in the past so reducing global warming causing emissions is an essential part of efforts to preserve biodiversity.  As reported by the Guardian, banks have a pivotal role to play to curtail the interrelated issues of global warming and biodiversity loss. This is the view of the lead author of the IPBES report, Prof Kai Chan of the Institute of Resources, Environment and Sustainability at the University of British Columbia.

“A global sustainable economy sits at the centre of humanity’s much-needed transformation to meet the climate and ecological crises. And at the centre of that sit the banks and the finance institutions whose investments power development around the globe.” Prof Kai Chan said.

The value of biodiversity may be even greater than previously thought. A recent study showed that the biodiversity costs of climate change are five times larger than prevailing predictions. In the light of such research there is growing pressure on banks to become part of the solution.  

Professor Chan envisions a future in which capital support for projects is contingent on the ability to demonstrate environmental betterment.  “Imagine a world in which projects can only raise capital when they have demonstrated that they will contribute meaningfully and positively to restoring the planet’s bounty and a safe climate for all,” Chan said. 

There are the 3 events that will take place this year that will go a long way in addressing the issues that drive biodiversity loss. What happens at the high-level Ocean Conference in Lisbon, the Biodiversity Summit in Kunming and the COP 26 climate summit in Glasgow may well determine the fate of the natural world.  

We know what we have to do to preserve biodiversity and the newly elected Biden administration gives us reason to hope.  They are earnestly working to address climate change both domestically and around the world.  However, banks must conduct biodiversity impact assessments on every project they finance if we are to succeed in preserving what remains of the natural world. 

ShareTweetShare
Previous Post

McGill SDG Week (Online Event)

Next Post

Disinformation is the Most Pressing Global Sustainability Issue

Related Posts

Carbon Emissions – Red States and Blue States (Infographic)

by Richard Matthews
February 25, 2021
0

Red states produce and consume more carbon than blue states. This holds true for both Republican state economies and the lifestyle choices of citizens in red states. GOP-controlled states produce...

Climate Change is Fueling Deadly Extreme Weather and Costly Climate Disasters

by Richard Matthews
January 13, 2021
0

There were a record number of extreme weather events and climate related disasters in 2020.  An ever warming planet has increased both the intensity and the frequency of these events....

protected areas and new species on the map of the world

Summary of Positive Biodiversity Stories

by Richard Matthews
January 11, 2021
0

Buried under apocalyptic headlines, there were a host of positive biodiversity stories in 2020. Progress in habitat protection and species reintroductions suggest that we are seeing efforts to combat biodiversity...

Next Post

Disinformation is the Most Pressing Global Sustainability Issue

Leave a Reply Cancel reply

Follow Us

  • Facebook
  • Twitter
  • Email
  • LinkedIn
  • Reddit
  • SoundCloud

Subscribe to the Blog

Enter your email address to subscribe to this blog and receive notifications of new posts by email.

Supply Chains

Review of Decarbonization Through the Electrification in the Shipping Industry

by Richard Matthews
March 1, 2021
0

All modes of transportation are gradually being converted to electric propulsion and this includes watercraft. Driven by ominous increases in...

Read more

Carbon Emissions – Red States and Blue States (Infographic)

February 25, 2021

America’s Most Popular Purveyor of Climate Disinformation is Dead

February 23, 2021

The International Conference on Fake News, Social Media Manipulation and Misinformation (10 Events)

February 21, 2021

Climate Action: Why We May Finally Do What Needs to be Done

February 20, 2021
  • Business
  • Economy
  • Energy
  • Environment
  • Investing
  • Politics
  • Technology
  • Social Change

© 2021 Copyright The Green Market Oracle.

No Result
View All Result
  • Business
    • Corporate Culture
    • Leadership
    • Marketing
    • Supply Chains
  • Economy
    • GDP
    • Jobs
    • The Green Economy
  • Energy
    • Fossil Fuels
    • Renewables
    • Solar
    • Wind
  • Environment
    • Emissions
    • Biodiversity
    • Extreme Weather
    • Wildfires
  • Investing
  • Politics
    • American Politics
    • Canadian Politics
    • International Politics
  • Technology
    • Buildings
    • Carbon Capture
    • Climate Change
    • Food
    • Transportation
    • Health
    • Renewables
  • Social Change
    • Education
    • Activism
    • Psychology
    • Marches

© 2021 Copyright The Green Market Oracle.

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In